Construction company, Julius Berger Plc has announced January 13, 2017 to January 27, 2017 as the closed period for trading in the company’s shares.
The firm also notified the investing public that its Board Audit Committee would meet on Thursday January 26th, 2017 to consider the results of the fourth Quarter Ended December 31, 2016.
Julius Berger’s notice filed on Monday through the Nigerian Stock Exchange and signed by Company Secretary, Mrs. Cecelia Ekanem Madueke said, “In this closed period all who receive notice of the closed period in Julius Berger ( Julius Berger includes Julius Berger Nigeria and all its subsidiaries) are considered “insiders” and under the provisions of the Company and Allied Matters Act Cap C20, LFN, 2004 (“CAMA”), the rules and regulations of the securities and Exchange Commission (“SEC”) and the Nigerian Stock Exchange (“The Exchange), are under restriction not to trade or deal in the equity of the company.”
A close period is a period, usually of two months, prior to the release of results during which directors and other insiders are not allowed to trade in a company’s shares. Companies usually refrain from making other price sensitive announcements (e.g. trading statements) during the close period.
